The market has crashed, it really has.

"Do you remember the liquidation of "1011"? It was like the first domino falling, the highly leveraged brothers were completely wiped out. Interest rate cuts? Don't even think about it. Inflation is still hovering at a high level, and the geopolitical situation is still unstable. With a triple blow, the big funds are fleeing faster than anyone else.

The current market is like a broken water tank - the faucet has long been turned off (no new money coming in), but the drain is wide open (selling pressure is surging), and the water level? You guess.

The technical aspect is more straightforward. A death cross has already appeared, and several key price levels need to be remembered:

134.59 is the ceiling, 130.41 is the resistance level, 126.99 is considered the dividing line between bulls and bears, and the last line of defense is at 121.54.

The yellow and white lines of the MACD are crossing downwards below the zero line, while the red bars are still rising, indicating a typical panic sell-off. The short-term trend has confirmed a bearish reversal, so any subsequent rebound should be approached with caution as it might be a trap for the bulls.

What's the next step? The downtrend isn't over yet.

If it rebounds to around 130.41, it is highly likely to be pushed down, and then continue to explore downwards. If the support at 121.54 cannot hold, then the space below will truly open up.

Don't act impulsively in operations:
For those with positions, sell in batches when it rebounds to the range of 130.41-134.59, don't hold any illusions.
For those who want to buy the dip, let's talk about it later. The range of 126.99-121.54 can be considered for gradual entry, but definitely don't go all in at once.

However, speaking of which, when the market is in turmoil, the Plasma project is quietly preparing a big move.

Why is it worth paying attention to? The underlying technology uses a modular architecture... (The original text is not fully provided for the subsequent content)